Nepal bans use of Indian currency notes above ₹100

PTI | | Updated on: Dec 14, 2018

Nepal’s government has banned the use of Indian currency notes of ₹2,000, ₹500 and ₹200 denominations, in a move that could affect Indian tourists visiting the Himalayan nation, where Indian currency is widely used, as well as Nepalese working in India.

Indian currency is extensively used by Nepalese people and businesses for their savings and transactions.

The government has asked the people to refrain from keeping or carrying Indian bank notes higher than ₹100 denomination as it has not legalised them, said Nepal’s Minister for Information and Communications, Gokul Prasad Baskota. “The government will soon issue a formal notice in this matter,” he added.

India is Nepal’s largest trade partner and supplies the majority of its consumer goods. The Indian government introduced new banknotes of ₹2,000, ₹500 and ₹200 after the demonetisation of old ₹500 and ₹1,000 notes in 2016. The move hit countries such as Nepal and Bhutan, where Indian currency is widely used.

 

Published on December 14, 2018
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